No need to explain deposits in KYC-compliant accounts: RBI
- 5 years ago
The Reserve Bank of India (RBI) has withdrawn provisions about questioning deposits above Rs 5,000 in old currency notes of Rs 500 and Rs 1000 in the fully KYC-compliant bank accounts.
After much criticism over the explanation condition by the government, the decision has now been rolled back, which means that people will now be able to deposit as much as money they want to.
Ever since the government decision took the decision to ban two high value currency notes, the RBI has been coming up with new decisions making to make this move more effective and changing rules wherever possible.
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After much criticism over the explanation condition by the government, the decision has now been rolled back, which means that people will now be able to deposit as much as money they want to.
Ever since the government decision took the decision to ban two high value currency notes, the RBI has been coming up with new decisions making to make this move more effective and changing rules wherever possible.
For More Information visit us: http://www.inkhabar.com/
Connect with us on Social platform at: https://www.facebook.com/Inkhabar
Connect with us on Social platform at: https://twitter.com/Inkhabar
Subscribe to our You Tube channel: https://www.youtube.com/user/itvnewsindia